|
|
| Hotels and Restaurants
Statistics, 1996 |
The Report provides data on gross output, value added, expenditure on
fixed assets, employment and the contribution of the sector to the Gross Domestic Product.
2. The main developments of the sector for 1996 compared to 1995 were:
During 1996, hotels and restaurants experienced a reduction in both,
output and value added. This is due to a fall in the number of tourists visiting Cyprus
and to fewer overnight stays. As a consequence, value added in real terms declined by 1,1%
in contrast to 1,3% increase that was realised in 1995.
Value added at current market prices, in 1996 declined by 2,5% to
£329,8 mn compared to £338,4 mn in 1995 and its contribution to Gross Domestic Product
declined tï 8,5% from 9,1% in 1995. Gross output declined by 1,6% to £546,1 mn from
£554,7 mn in 1995.
Employment in hotels and restaurants increased by 0,7% in 1996
compared to the previous year and reached 30.300 persons, accounting for 9,9% of the total
economically active population and 10,6% of the total gainfully employed population.
Gross fixed capital formation, at current prices, decreased by 5,7%
in 1996 to £45,0 mn from £47,7 mn in 1995. Investment in new buildings accounted for
£32,1 mn, in machinery and equipment £5,5 mn, in furniture and fixtures £6,7 mn and in
transport equipment £0,7 mn.
The distribution of the main production costs in 1996 were as
follows: Direct production costs (materials, fuels, electricity, repairs, etc.) made up
23,1% of total production cost in hotels and 42,4% in restaurants. Labour cost in hotels
represented 45,2% of the total cost while in restaurants 39,5%.
3. The report is obtainable from the Government Printing Office at
£4,00. |
